At 12:30 IST, the barometer index S&P BSE Sensex lost 30.59 points or 0.05% to 80,405.15. The Nifty 50 index rose 17.45 points or 0.07% to 24,558.60.
The broader market outperformed the leading indices, with the S&P BSE Mid-Cap index rising 0.45% and the S&P BSE Small-Cap index gaining 1.13%.
Market breadth was strong, with 2,651 stocks rising and 1,260 stocks falling on the BSE. A total of 152 stocks remained unchanged.
Business:
According to the latest data from the RBI, India’s foreign exchange reserves fell by $4.8 billion to $670.119 billion in the week ended August 9.
In the previous reporting week, the country’s foreign exchange reserves increased by $7.533 billion to an all-time high of $674.919 billion.
In the week ended August 9, foreign exchange holdings, an important component of reserves, decreased by $4.079 billion to $587.96 billion.
Gold reserves fell by $860 million to $59.239 billion during the week. Special Drawing Rights (SDRs) rose by $121 million to $18.282 billion.
According to central bank data, India’s reserve position with the IMF increased by $18 million to $4.638 billion in the reporting week.
Derivatives:
The NSE’s India VIX, an indicator of the market’s near-term volatility expectation, rose 0.39% to 14.46. Nifty futures for August 29, 2024, traded at 24,583, at a premium of 24.40 points to the spot price of 24,558.60.
The Nifty options chain for expiry on August 29, 2024 showed a maximum call OI of 41.1 lakh contracts at a strike price of 24,500. The maximum put OI of 52.6 lakh contracts was observed at a strike price of 24,000.
Buzzing Index:
The Nifty Oil & Gas Index rose 1.53% to 13,198.30. The index gained 3.04% in two consecutive trading sessions.
GAIL (India) (up 2.77%), Mahanagar Gas (up 2.39%), Hindustan Petroleum Corporation (up 2.37%), Bharat Petroleum Corporation (up 2.29%), Aegis Logistics (up 1.93%), Oil & Natural Gas Corporation (up 1.67%), Indian Oil Corporation (up 1.59%), Oil India (up 1.45%), Castrol India (up 1.29%) and Petronet LNG (up 1.19%) rose.
Stocks in the spotlight:
Tejas Networks rose 1.13% after Saankhya Labs, a wholly owned subsidiary of the company, won an order from NewSpace India to supply bi-directional Mobile Satellite Service (MSS) terminals for various purposes.
Strides Pharma Science lost 1.14%. The company said its wholly owned subsidiary Strides Alathur has received an Effort Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its formulation plant in Alathur, Chennai.
Powered by Capital Market – Live News
Disclaimer: No Business Standard journalist was involved in the creation of this content.
First published: August 19, 2024 | 12:40 p.m. IS
